Automotive Speaker Market Report

Market Insights

"The automotive speaker market was estimated at USD 5 billion in 2021 and is likely to grow at a CAGR of 6.41% during 2022-2028 to reach USD 7.77 billion by 2028."

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Automotive Speaker is a car audio speaker matched for optimal sound quality. Typically, mid-bass drivers are paired with a pair of tweeters which are matched with a crossover to limit the frequency range each speaker must accurately reproduce.

Automotive Speakers are of different types, such as 2-way speakers, 3-Way Speaker, and 4-Way Speaker, that are used in various Sales Channels, such as OEM and Aftermarket.

Market Dynamics

Market Drivers

The prime factor that is contributing to the demand for automotive speakers is mainly the increasing trend of using these speakers in various end-use industries, such as OEMs and aftermarket.

Segments' Analysis

By Type

"The 2-way speaker segment accounted for the largest market share."

The market is segmented as 2-way speaker, 3-way speaker, and 4-way speaker. The 2-way speaker segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. Further, its easy installation, small size, and high-quality audio at affordable prices is driving the growth of this segment.

Vehicle Trends

"The passenger car segment accounted for the largest market share."

The automotive speaker market is segmented as passenger car and commercial vehicle. The passenger car segment held the larger share of the market in 2021 and is likely to maintain its leading position during the forecast period as well. Further, changing consumer lifestyles and increase in consumer disposable income are supporting the investments in high-quality sound systems in private vehicles, which in turn, are the major factors propelling the growth of this segment.

Sales Channel Trends

"The OEM segment accounted for the largest market share."

The market is segmented as OEM and aftermarket. The OEM segment held the larger share of the market in 2021 and is expected to remain dominant during the forecast period. Consumers are shifting their preference towards high-quality audio systems, which are leading the automakers to install enhanced in-car audio systems – a major factor expected to drive the growth of this segment.

Regional Analysis

"Europe accounted for the largest market share."

Europe is estimated to be the largest as well as the fastest-growing market for automotive speakers during the forecast period, with Germany, France, and the UK being the major countries offering lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as OEM and aftermarket, which is generating huge demand for automotive speakers and the presence of a large number of automotive speaker manufacturers in the European region. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period. 

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Key Players

The following are the key players in the automotive speaker market (arranged alphabetically).

• Alpine Electronics, Inc.
• Bose Corporation
• Clarion Co. Ltd
• Continental Corporation
• Focal JM Lab
• Harman International Industries, Inc.
• JVCKENWOOD Corporation
• Kicker
• Pioneer Corporation
• Sound United.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s automotive speaker market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

The automotive speaker market is segmented into the following categories. 

By Type:

• 2-Way Speaker
• 3-Way Speaker
• 4-Way Speaker

By Vehicle Type:

• Passenger Car
• Commercial Vehicle

By Sales Channel Type:

• OEM
•  Aftermarket

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and , please send your inquiry at sales@stratviewresearch.com